U.S. Federal Reserve raises interest rates for 1st time in 3 years

The Federal Reserve said it cut rates to help bring inflation back to the central bank's two per cent target. It's the first policy shift under the new Fed chief, who took office in late May after being selected by Trump with an expectation that he would cut rates. But economists say those pressures aren't hitting Canada in quite the same way, and don't put the same kind of pressure on the Bank of Canada.